How To Pay for Phlebotomy Training

Phlebotomy is a promising career choice. It offers good pay, flexibility, entry into the healthcare industry, and more. Plus, the training isn’t expensive and can be completed in just a few weeks.

But what if you need financial support to get that training? How can you pay for phlebotomy training? Check out the options listed below.

State Departments

Prospective phlebotomy students can look into Michigan Works! and Michigan Rehabilitation to inquire about financial support and other options.

Michigan Works! supports the state’s workforce development system. Among other things, it offers members access to professional development opportunities.

Michigan Rehabilitation helps state residents with disabilities achieve employment. For example, if you navigate challenges such as hearing loss or diabetes, you might be eligible for aid.

Your Current Employer

Depending on your present employment situation, an opportunity for financial support might be a cubicle away. That’s because many companies today offer a tuition reimbursement program for employees.

Such programs may have stipulations. Those stipulations might include receiving a passing grade or needing to complete the course first before being reimbursed for the expense. Another potential stipulation is agreeing to remain with the company for a certain period after completing your training.

Speak with an HR representative to learn if your employer offers such a program and, if so, its requirements.  

A Prospective Employer

Because phlebotomy is such a growing field, demand for phlebotomists continues to grow. Review online job boards for any relevant openings and contact posters directly. Ask if there are any training programs available that will cover the phlebotomy training expense for new hires who can, after training, move into a more demanding role. Don’t just look for “Will train” posts; you never know which medical practice, for example, might be amenable to the idea from the right candidate.  

A Personal Loan

Have you heard of the Free Application for Federal Student Aid (FAFSA)? Or know someone who received a Pell grant? Both of those avenues for financial aid support are open only to undergraduate and graduate students.

That doesn’t close all aid-related doors to you, though. A personal loan is a viable option worth considering when other options are not available. Speak with a loan officer at a local credit union to get a better idea of the requirements you’ll need to meet any the rates and fees you’ll need to pay.

Let’s say you take out a $1,000 personal loan with a 6% interest rate to cover a phlebotomy course. You plan on paying that loan back within two years. Your monthly payment would be $44, and you would end up paying $64 in total interest over the life of the loan.

You’ve Got This

Congratulations on committing yourself to a career that can help launch many years of financially and personally rewarding work.

We see students coming through our program that have dealt with some financial hurdles. We know you can do it, just as they did. Contact us today; we’ll be with you every step of the way!  

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